COE Bidding – 2nd Round of October 2019

[Kia7200]

2 hours ago, Pinping said:

Hi 

I bought suzuki swift during the auto show. 

They are asking for top up too. It's 2 fail bid. Now they asking to top up for next bid to be guaranteed bid. 

The sales told me they didn't secure any car for all the expo auto show client. I wonder is it true? 

How is champion motor in general? Feel so un ethical. As this round Coe actually drop and go back to same level price as before auto show. 

I find their profit margin r the lowest among the jap cars. So this might be the reason

[Kia7200]

7 hours ago, fkborneo said:

PSA: Borneo has asked for top-up

According to SE, Borneo Motors has not asked for top up since 2016. This is now October 2019.

Ordered in July when COE price was S$26.7k; recent round was S$32.3k. Borneo asked us to top up. Gave us the option of either topping up S$2k (non-guaranteed) or waiting another few months. Apparently Borneo is only willing to bid S$27k.

Thought I should share this because when I bought the car, I tried looking up Borneo's call history online. Could not find so relied on SE who told me no need to buy guaranteed as no chance of top up.

Pretty annoyed because I checked with our SEs from Honda, Nissan, Kia, Hyundai, Suzuki - apparently all their customers got their cars.

TLDR: Borneo sucks. Should have bought a Hyundai!

Saw ur post everywhere. U not sian meh

[Emowei]

Hi hi. I also sian. MI bid $41804, kena $1 outbid for CAT B. asked me top up $2k for CAT E but the difference between their CAT B outbid and CAT is only $216. Don't make sense at all, but wife want car so I offered $500 top up. Totally kena ignored. Wonder if SE is helping to "fight" at all, just keep ask me wait for management decision. 😞

[yishunite]

17 hours ago, LinusLoh_1967 said:

Wah, even your nick shows your rage!

Perhaps they offered you too good a deal. But like you said, quite unheard of that BM not willing to get your coe.

 

Take as blessing in disguise. BM already big volume big margin dont deserve ur custom 😅

 

In negos the most impt leverage u have is the ability to walk away. Use it and u will see they suddenly "fight" for u

Edited October 26, 2019 by yishunite

[Contented]

On 10/26/2019 at 12:18 AM, Ct3833 said:

I suppose you are saying why government didnt prevent  dealer from bidding COE, because that will impact their pocket. 

Yes. Dealer should just sell car not coe.. 

[Lotr]

7 hours ago, Contented said:

Yes. Dealer should just sell car not coe.. 

can self bid and bring coe to buy the car.

the basic cost of the car is without coe.

the price of the car is basic cost + profit + coe.   

some sellers may be happier to sell to such ready buyers since they can register the car immediately if they have ready stocks.  of course, they will lose some commissions from smaller loan quantum.

Furthermore, some buyers may not or do not want to pay full cash for coe so the next choice for them will be to get from dealer.

[Hubwee]

48 minutes ago, Lotr said:

can self bid and bring coe to buy the car.

the basic cost of the car is without coe.

the price of the car is basic cost + profit + coe.   

some sellers may be happier to sell to such ready buyers since they can register the car immediately if they have ready stocks.  of course, they will lose some commissions from smaller loan quantum.

Furthermore, some buyers may not or do not want to pay full cash for coe so the next choice for them will be to get from dealer.

Think you have not buy a car from a dealer with your own COE before as it does not work the way you have written .

You bid for your own COE paying just a SGD 10k deposit . No matter what your winning bid is , you pay only 10k first . 
 

The dealer registering your new car will still have to pay for you the balance amount . 

This balance amount can be included into your loan amount if you intend to get any banks to finance your car purchase . 

 

Edited October 27, 2019 by Hubwee

[alex976]

47 minutes ago, Lotr said:

can self bid and bring coe to buy the car.

the basic cost of the car is without coe.

the price of the car is basic cost + profit + coe.   

some sellers may be happier to sell to such ready buyers since they can register the car immediately if they have ready stocks.  of course, they will lose some commissions from smaller loan quantum.

Furthermore, some buyers may not or do not want to pay full cash for coe so the next choice for them will be to get from dealer.

yes you can bid for the coe yourself.

but the problem is at the end of the day, the model u want has no PI option. wad do u do frm there?

how many ADs is willing to sell u the car without COE ? 

you not getting the comment that Contented is saying.

the real qtn is can the govt set the law such that individuals buy their own COE then look ard to get the car and dealers are not allowed to bid for COE?

dealers jus strictly sell cars and owners get their own COE.

 

[alex976]

7 minutes ago, Hubwee said:

Think you have not buy a car from a dealer with your own COE before as it does not work the way you have written .

You bid for your own COE paying just a SGD 10k deposit . No matter what your winning bid is , you pay only 10k first . 
 

The dealer registering your new car will still have to pay for you the balance amount . 

This balance amount can be included into your loan amount if you intend to get any banks to finance your car purchase . 

 

totally agreed Lotr seems like he or she nvr bought a car with his or her own coe before

Edited October 27, 2019 by alex976

[Lotr]

36 minutes ago, Hubwee said:

Think you have not buy a car from a dealer with your own COE before as it does not work the way you have written .

You bid for your own COE paying just a SGD 10k deposit . No matter what your winning bid is , you pay only 10k first . 
 

The dealer registering your new car will still have to pay for you the balance amount . 

This balance amount can be included into your loan amount if you intend to get any banks to finance your car purchase . 

 

Thanks for pointing out. I really have to not bought one with my own coe. And I thought it should be pretty straight forward

[Ct3833]

1 hour ago, Lotr said:

Thanks for pointing out. I really have to not bought one with my own coe. And I thought it should be pretty straight forward

Most ADs do not like you to walk in with your COE,  you will end up paying more than taking a full package  from them.  By selling you a package price,  they can mark up and make profit from COE as well,  by walking in with your own  COE  would mean they will earn less, therefore most ADs do not welcome people with their own COE. 

Edited October 27, 2019 by Ct3833

[Ody_2004]

I explained before.. now u wanna eat Fried Carrot cake/Char Kway Teow do you think you can buy your own egg and bring to the uncle let him fry?

He will pass you a kite to fly..

[Lotr]

 if I were to buy a new car next time, I will be sure to ask AD to quote me without COE  

[Theunwiseman]

I asked an AD what if I were to bid my own COE as I worry they would diliy dally on my bid.

He said no problem, the quoted price minus the COE rebate will be your car price withoiut COE.

Not sure if all AD are like that, but their practice should be along that line. You'd end up paying about 10K more for your own COE instead of their package.

[Wormee]

On 10/26/2019 at 12:25 AM, Kia7200 said:

Saw ur post everywhere. U not sian meh

He just joined MCF last Friday with zero points. Could be prank posts or hated posts from a PI/competing SE from another brand. 

[Kia7200]

2 hours ago, Wormee said:

He just joined MCF last Friday with zero points. Could be prank posts or hated posts from a PI/competing SE from another brand. 

Saw his post even in hwz.

 

[Jamesc]

On 10/25/2019 at 11:34 AM, andrewyewkc said:

100 billion a day is alot of money. How does this affect the world?

 

[fkborneo]

to future car buyers, i hope you do not find yourselves in the same unenviable position as i do. 

3 months ago, when car prices were low, i made the huge mistake of choosing to go with a toyota under borneo motors, instead of some other make/model. i was told by the SE "sure get - don't need to buy guaranteed". tried looking for top-up call history then but none was available online. i am now committing this/the above to internet history for the benefit of all future buyers. 

in just the past few days, since starting this thread and commenting on a number of others, both here and in mycarforum, i can now say that the SE was wrong and that borneo has a history of asking for top-ups all the time. people have come out the woodwork to say borneo asked for topups in 2017, 2018, 2019 and as recently as just last week and over the past 3 months (me). 

buying a car is alot like investing - there is a strike price that each person considers to be a good entry for them. however, that is only 1 part of the equation - the other part is your executing banker/broker/SE. no point spotting the right price but not being able to execute. in my case, my SEs from all the other car brands could execute (i checked) - only borneo could not deliver. thankfully, like many car owners, this is not my only car and i can afford to wait for the next dip in the cycle.

this was my first time dealing with borneo (as many threads note, their prices/offerings have been uncompetitive for years). this will also be my last time.

TLDR: if you are looking to buy a toyota from borneo, and are wondering about their top up history - it's really bad. u r better off elsewhere. i missed my chance thanks to them. i hope you don't miss yours!

EDIT: i just want to clarify that coe prices have not climbed astronomically since i signed the sales agreement; the difference at signing and some of the bids is just S$4k-6k. so take note that if u choose to buy a toyota/borneo (don't), ur non-guaranteed contract is pretty much contingent on coe prices remaining the same or dropping, with no threshold for increase (unlike other makes/models). this has nothing to do with their profit margins being low; it just means they want to maintain a certain (fat) margin.